This week, British agency Employment Conditions Abroad released its 2010 survey of the most expensive cities in the world for expats, demonstrating a rise in the cost of living in several countries, particularly Brazil. In fact, that's the kicker: the study found that Rio de Janeiro is now the most expensive city in the hemisphere -- even more expensive than New York.
The sharp rise in the cost of living was attributed to an increased demand for Brazilian commodities, as well as the strengthening of the real. Granted, the study isn't completely comprehensive; it includes food (groceries and eating out at restaurants), drinks and tobacco, "miscellaneous goods," services, clothing, electrical goods, and "motoring." It does not include accommodation, utilities, car purchases, or school fees. But it does reflect a reality that prices in Rio are outrageously high, and have been for some time (I've been writing about this for awhile). Interestingly, though, Rio and New York were right next to each other on the list - Rio as the 28th most expensive city and New York (Manhattan) as the 29th.
To see the complete list of cities, click here.
Excerpt: "Understanding this group of new consumers can be challenging for marketers trying to target them with the right products, services and messages. An ad agency called Consumidor Popular recently ran a workshop for 12 executives that included kits full of photos the agency had snapped in the homes of Clase C families showing what was in their cupboards and refrigerators to offer insights into their brand choices and consumption habits. High-status cellphones are a given, and the Samsung Star model, priced at $325, is a favorite among the Clase C, who account for about 50% of Samsung's cellphone sales."